Brokerages expect SYSCO Co. (NYSE:SYY) to post sales of $15.46 billion for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for SYSCO’s earnings. The lowest sales estimate is $15.41 billion and the highest is $15.50 billion. SYSCO posted sales of $14.65 billion in the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The firm is expected to issue its next quarterly earnings results before the market opens on Monday, November 5th.
On average, analysts expect that SYSCO will report full year sales of $61.26 billion for the current fiscal year, with estimates ranging from $61.08 billion to $61.41 billion. For the next year, analysts anticipate that the company will report sales of $63.88 billion, with estimates ranging from $63.70 billion to $64.02 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow SYSCO.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $15.32 billion for the quarter, compared to the consensus estimate of $15.30 billion. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The company’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share.
SYY has been the topic of several recent analyst reports. Wells Fargo & Co increased their price objective on shares of SYSCO from $71.00 to $80.00 and gave the company a “$70.32” rating in a report on Wednesday, July 18th. They noted that the move was a valuation call. Loop Capital increased their price objective on shares of SYSCO to $80.00 and gave the company a “buy” rating in a report on Tuesday, August 14th. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Argus increased their price objective on shares of SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Finally, Morgan Stanley increased their price objective on shares of SYSCO from $61.00 to $67.00 and gave the company an “equal weight” rating in a report on Tuesday, July 17th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. SYSCO presently has an average rating of “Hold” and a consensus target price of $72.42.
In other news, Director Joshua D. Frank sold 1,013,666 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $75.09, for a total value of $76,116,179.94. Following the completion of the sale, the director now directly owns 4,005 shares in the company, valued at $300,735.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $70.61, for a total transaction of $353,050.00. Following the completion of the sale, the director now owns 71,137 shares of the company’s stock, valued at $5,022,983.57. The disclosure for this sale can be found here. Insiders sold 3,969,811 shares of company stock valued at $297,380,043 over the last quarter. Company insiders own 9.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in SYSCO by 1.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,305,931 shares of the company’s stock worth $78,304,000 after purchasing an additional 24,824 shares during the last quarter. BB&T Securities LLC increased its position in SYSCO by 123.9% during the first quarter. BB&T Securities LLC now owns 49,171 shares of the company’s stock worth $2,948,000 after purchasing an additional 27,205 shares during the last quarter. A.R.T. Advisors LLC increased its position in SYSCO by 100.0% during the first quarter. A.R.T. Advisors LLC now owns 39,006 shares of the company’s stock worth $2,338,000 after purchasing an additional 19,500 shares during the last quarter. Natixis acquired a new stake in SYSCO during the first quarter worth about $4,220,000. Finally, Hancock Holding Co. acquired a new stake in SYSCO during the first quarter worth about $814,000. Institutional investors and hedge funds own 80.22% of the company’s stock.
SYY traded up $0.33 during midday trading on Wednesday, hitting $68.82. 2,147,497 shares of the company traded hands, compared to its average volume of 2,697,732. The company has a quick ratio of 0.74, a current ratio of 1.21 and a debt-to-equity ratio of 3.01. The company has a market cap of $38.07 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.98 and a beta of 0.56. SYSCO has a 52-week low of $52.30 and a 52-week high of $75.98.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 5th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, October 4th. SYSCO’s dividend payout ratio (DPR) is 45.86%.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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